Overview: The Malaysian economy, a mixture of private enterprise and a soundly managed public sector, has posted a remarkable record of 8%-9% average growth in 1987-93. This growth has resulted in a substantial reduction in poverty and a marked rise in real wages. Despite sluggish growth in the major world economies in 1992-93, demand for Malaysian goods remained strong, and foreign investors continued to commit large sums in the economy. The government is aware of the inflationary potential of this rapid development and is closely monitoring fiscal and monetary policies.

National product: GDP - purchasing power equivalent - $141 billion (1993 est.)

National product real growth rate: 8% (1993 est.)

National product per capita: $7,500 (1993 est.)

Inflation rate (consumer prices): 3.6% (1993)

Unemployment rate: 3% (1993)

Budget:
revenues: $19.6 billion
expenditures: $18 billion, including capital expenditures of $5.4 billion (1994 est.)

Exports: $46.8 billion (f.o.b., 1993 est.)
commodities: electronic equipment, petroleum and petroleum products, palm oil, wood and wood products, rubber, textiles
partners: Singapore 23%, US 15%, Japan 13%, UK 4%, Germany 4%, Thailand 4% (1991)

Imports: $40.4 billion (f.o.b., 1993 est.)
commodities: machinery and equipment, chemicals, food, petroleum products
partners: Japan 26%, Singapore 21%, US 16%, Taiwan 6%, Germany 4%, UK 3%, Australia 3% (1991)

External debt: $18.4 billion (1993 est.)

Industrial production: growth rate 13% (1992); accounts for 43% of GDP

Electricity:
capacity: 8,000,000 kW
production: 30 billion kWh
consumption per capita: 1,610 kWh (1992)

Industries:
Peninsular Malaysia: rubber and oil palm processing and manufacturing, light manufacturing industry, electronics, tin mining and smelting, logging and processing timber
Sabah: logging, petroleum production
Sarawak: agriculture processing, petroleum production and refining, logging

Agriculture: accounts for 17% of GDP
Peninsular Malaysia: natural rubber, palm oil, rice
Sabah: mainly subsistence, but also rubber, timber, coconut, rice
Sarawak: rubber, timber, pepper; deficit of rice in all areas

Illicit drugs: transit point for Golden Triangle heroin going to the US, Western Europe, and the Third World despite severe penalties for drug trafficking

Economic aid:
recipient: US commitments, including Ex-Im (FY70-84), $170 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $4.7 million; OPEC bilateral aid (1979-89), $42 million

Currency: 1 ringgit (M$) = 100 sen
Exchange rates: ringgits (M$) per US$1 - 2.7123 (January 1994), 2.5741 (1993), 2.5474 (1992), 2.7501 (1991), 1.7048 (1990), 2.7088 (1989)

Fiscal year: calendar year

NOTE: The information regarding Malaysia on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Malaysia Economy 1995 information contained here. All suggestions for corrections of any errors about Malaysia Economy 1995 should be addressed to the CIA.